Salons Suites with 44 Spaces: Absentee owned

West Hartford,, Connecticut

Business Summary: This absentee owned business offers small-scale spa-basedbusiness owners the opportunity to run their business out of awell trafficked location with amenities including well-maintainedspace, business partnership opportunities, educational workshopsthrough the franchise, and a complimentary concierge service.This salon suite franchise business has a loyal and establishedtenant base including multiple customers that have been with thebusiness since its origins in 2015. This business is fiercelyfocused on client services because they know that as the host ofa multitude of businesses, their name is intertwined with all theircustomers’ branding. The location for this business is a 10,000square feet facility in West Hartford, CT with 44 suites for differentclients to utilize. The current owner is looking to sell due to recenthealth issues coming to light. He has a passive role in thebusiness which includes checking in with tenants as preferredand he likes to purchase everyone lunch once a month. Newownership would not need to hire a replacement and could easilystep into this role.This business is unique in its ability to not only provide businessowners an opportunity to live their dream without worrying aboutthe details of running a business, but also the sense of comraderyit evokes in customers. This establishment has created a majornetworking opportunity for businesses and a community of likemindedindividuals working to build their dreams. New ownershipcould expand this community in a few ways. The current locationhas 1,000 sq. ft. that has not been converted into suites but couldbe. A buyer could also utilize the excellent reputation and longstandingclients to expand into an additional location.Priced at $530,000, A 10% down payment of $53,000 returns$143,976 in the first year after debt payments! This uniquebusiness has little local competition and is the prime choice fornew and returning clients alike. Often, customers that have lefttheir location to work in a separate boutique have returned for thelowered overhead costs and responsibilities as well as theindividuality and community offered.
Facilities / Terms of Lease: 10,000 sq. ft. facility with 44 suites available. 9,000 ft. is currently suites, remaining 1,000 ft. could be renovated into additional suites.
Potential Growth/Expansion: Expanding into the remaining 1,000 sq. ft. of the current location or growing into an additional location.
Owner willing to finance: 10% Seller Financing $53,000
Owner willing to train: 3-6 months
Reason for selling: Recent Cancer Diagnosis